ETH Price Recovery Shaky Above $1,600 As Unique Addresses Hit 1B, Capitulation Signal?

ETH price strengthened the bullish outlook from the beginning of this week with gains exceeding the current support at $1,600. This bullish comeback can be attributed to sentiment surrounding the Franklin Templeton spot BTC ETF filing. Franklin is a $1.5 trillion asset management firm and its interest in the crypto market has been perceived to be positive.